The Trade: Credit Suisse sees increased prime brokerage revenues after balance sheet cuts

Credit Suisse has seen a turnaround in its prime brokerage unit after 18 months of cutting back non-profitable hedge fund clients and staff.

The Swiss-based bank stated it has seen increased profits from the business following its programme of optimising and rationalising its prime brokerage balance sheet.

“We are increasing our return on assets [for prime brokerage] by optimising capital deployment and plan balances, and it’s doing more with less,” said Tidjane Thiam, CEO, Credit Suisse. “The business was able to generate more revenues with a 25% less leverage, and the revenue per unit of leverage is up 31% year-on-year.”

The full article is available at https://www.thetradenews.com/credit-suisse-sees-increased-prime-brokerage-revenues-balance-sheet-cuts/

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